One of the biggest question that bugs every traveler when he/she is at the money changer would be:
Is it a good time to buy foreign currency?
To solve this, we’ve built a rate adviser and this is our methodology on how we determine if the rates are good:
- We pulled 6 months (180 days) worth of daily rates data from the European Central Bank.
- Averaging of every currency (sum average).
- Then we compare the average with today’s rate – also from the same European Central Bank source.
From there, if today’s rates were better then the 6 month average, we would then determine that it is a good time to change.
Good rates would receive a thumbs up and bad rates will receive a thumbs down.
However, if today’s rate is lower then the 6 month average, we would then determine that it would not be a good time to change.
With this, we hope you can make a better decision if it is the best time to visit your money changer.
As always, visit CashChanger.co to find out who has the best rates in Singapore!
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